Lido has recently seen signs of outperformance compared to many other alts. This post will briefly go through the potential reasons behind the momentum and look into if this is just hype or something more.

Stabilizing Financials

Overall, Lido has made major strides in profitability and is projected to break even or be profitable in 2025.

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ETH is purely in DAT szn right now and the recent rally is unlike ones we’ve seen in the past. In 2020-21, ETH rallies were correlated with onchain activity. Whether DeFi summer or NFT szn, these were what drove prices. This time, not so much.

Gas prices aren’t moving. This is very strange to me because at a minimum you would expect a lot

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Welcome back to Market Matters – August edition!

Since our last discussion, volatility has stayed muted but the macro liquidity picture is shifting fast. We kick things off with a teaser from our upcoming macro report on the looming TGA refill, a stealth form of QT that could weigh on markets for the next 2 to 4 months. With fewer buffer

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Remember when we worried about AI taking programming jobs? Turns out the bots went straight for the lucrative stuff first.

Researchers at the University of Sydney and University College London just dropped a paper on A1, an AI agent that hunts smart contract bugs and writes working exploits. Not vulnerability reports, but actual attack co

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BTC vs USD. 5th round TKO?

BTC is showing signs of reverting back to its inverse correlation with the US dollar. While most are watching equities or ETF flows, not many are tracking BTC’s relationship to the Inverse DXY and that’s where I think the signal is right now. The dollar is struggling to reclaim the key 100 level which has histor

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Introduction

Prediction markets have been booming lately, from betting on what tie Jerome Powell will wear to whether Jesus Christ will return this year; hyperfinancialization is at our doorstep and growing rapidly. Kalshi and Polymarket represent the two leaders in this sphere, yet they differ in their offerings and structure. Kalshi is

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Just sharing a protocol that for some might be under radar. Already farming $ENA and Ethereal with your $eUSDe? You might as well triple dip here. 

If you’re already using $eUSDe to farm Ethereal and $ENA, you can now also deposit it into @strata_money and start stacking points for their upcoming airdrop too.

Quick recap:

• Ethereal is

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Two months have passed since I published the World report – lots has happened since. This piece will be brief, focusing on the adoption metrics and ecosystem updates since May. 

The Growth Story Continues

World seems to be gaining momentum. 

Here are the high level numbers as of the mid-May (the 18th to be exact):

And now (July 28

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I’d like to preface this as my personal thesis on where I believe we currently are in the cycle. As we were consolidating back in April and everyone was calling for the end of the cycle, I wasn’t fully sold on the idea that we had topped out.

CT has a short memory, but the market never really forgets. Every cycle, without fail, there’s a

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